Saxo Bank is one of the leading multi-asset and forex brokerages and was established in 1992. Saxo Bank trading platform is safe, has a wide variety of trading options, and has a reasonable pricing policy. Furthermore, Saxo Bank offers two trading platforms with a lot of tools and features.
Keep reading to learn more about trading with Saxo Bank.
Safety
Saxo Bank is a safe trading platform. However, though not publicly traded, Saxo bank is authorized by the following regulators:
| Feature | Number of Regulators |
| Tier 1 | 6 |
| Tire 2 | 1 |
| Tire 3 | O |
Tiers measure an institution’s financial strength. Tier-1 financial institutions have a lot of capital reserves and hence offer high confidence to the investors. Tier-2 and tier-3 offer average and low confidence, respectively.
Investment Options Available on Saxo Bank
Saxo Bank offers a wide range of financial instruments to trade. As a multi-asset broker, Saxo Bank offers the following financial instruments:
- Forex Trading – Over 170 pairs
- Contracts for Differences (CFD) Trading
- US Stock Trading
- International Stock Trading
- Cryptocurrency (CFD) Trading
- Copy-Trading
- Non-Deliverable Forwards (NFDs)
- Exchange-Traded Notes (ETNs)
- Exchange-Traded Funds (ETFs)
- Bonds
- Futures
Saxo Bank Fees and Commissions
Saxo bank offers excellent, all-rounded pricing. Furthermore, the bank provides lower pricing for traders with substantial account balances and active traders. Saxo bank offers three classes of accounts; VIP, Platinum, and Classic.
The Classic account pricing is at par with the industry average. However, VIP and Platinum accounts pricing are among the industry’s best.
The classic account is an entry-level account that requires a minimum deposit of 10,000 US Dollars. However, the minimum balance is different for traders who reside outside the US.
In the platinum account, traders require a minimum deposit of 200,000 US Dollars, although there are exceptions depending on where you reside. You can also upgrade from classic to platinum. Saxo Bank’s Loyalty program allows classic account holders to upgrade to platinum after earning enough volume-related loyalty points.
VIP accounts are for elite investors with a minimum deposit of one million US dollars. However, you can also qualify for a VIP account through the loyalty program. The VIP account offers the best pricing. In addition, VIP account holders have exclusive connections to analysts and access to events.
The best thing about Saxo bank’s pricing policy is that it is commission-free. Instead of charging commissions, the bank makes money from a spread. However, the bank charges a ticket fee of three US Dollars for traders who trade less than half a standard lot (50,000 units) per month.
Saxo Bank Platform and Tools
Saxo Bank offers two trading platforms; SaxoTraderGO, which is web-based, and SaxoTraderPRO, the desktop version. Both platforms have streamlined designs and offer a variety of robust trading tools.
SaxoTraderGO is a responsive and easy-to-use platform, yet it also has advanced trading capabilities. The platform has an integrated watch list, alerts, and screener that work hand in hand. This web-based platform has charts with approximately 20 drawing tools and 58 indicators. Traders can choose from nine chart types, which are in sync with the mobile version. The charts are versatile, and swapping between instruments is pretty straightforward. In addition, an overview section shows trade signals and related news.
The desktop version, SaxoTraderPRO, resembles the web-based platform both in terms of feel and look. However, the desktop platform offers more professional trading features and tools. Additional features on SaxoTraderPRO include:
- Streaming level two order books.
- Over 13 advanced algorithm orders types for various markets
- Ability to support up to six monitors
- Streaming time and sales
However, charting is equally strong on the two versions. The user experience across the platforms is also consistent.
One of the most innovative tools on Saxo Bank trading platforms is the Account Value Shield feature. Traders can use this feature for risk management by specifying the maximum risk across their account balance. If the feature is triggered, it will close all open positions, except for mutual funds and bonds.
Conclusion
Saxo Bank offers a highly trusted trading platform. The platform is easy to use and offers its clients a seamless experience. Two trading platforms and advances tools make the platform among the best for trading a wide variety of financial instruments.